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Prices & Quotes - UK Markets - HSBC Holdings (HSBA)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 359.75p
Change Today:
-1.95p
Market Cap:
73,484m
Sector:
Banks

PBoC cuts lenders' reserve requirement ratio

By Alexander Bueso

Date: Friday 09 Jul 2021

LONDON (ShareCast) - (Sharecast News) - The People's Bank of China lowered the amount of reserves that the country's lenders need to keep on hand as reserves in a bid to keep financial conditions from tightening.
Overnight, the PBoC lowered all lenders' reserve requirement ratio by 50 basis points, effective from 15 July.

Only those banks with the lower 5% reserve requirement would be excluded.

Two days before, China's state council had argued that the PBoC should cut the reserve ratio with Premier Li on record as saying that support should be provided to small companies, in particular.

In a research note sent to clients the night before, Freya Beamish, chief Asia economist at Pantheon Macroeconomics, explained that any reduction "would be a rear-guard action designed to prevent financial conditions from tightening further, just as the economy needs support through the middle of the year.

"It doesn't by itself mean a shift towards broad-based easing."

Beamish added that an RRR cut would put the financial system in a better position to cope with forthcoming debt issuance by local governments.

It would also make it more likely that any rise in yields will progress in an orderly fashion.

She conceded that June activity data were likely to reveal the extent of damage from restrictions to impede the spread of Covid-19 variants and money and credit growth had slowed "sharply" of late "sharply, which, under normal circumstances would be a clear signal of a looming slowdown."

Nevertheless, "the current environment is anything but normal [...] As a result, we have to be careful in our interpretation of leading indicators.

"We think growth will rebuild, once the vaccine begins to win out against the variants."

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HSBC Holdings Market Data

Currency UK Pounds
Price 359.75p
Change Today -1.95p
52 Week High 455.50p
52 Week Low 283.35p
Volume 35,928,769
Shares Issued 20,426m
Market Cap 73,484m

Performance Indicators

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What The Brokers Say

Strong Buy 11
Buy 1
Neutral 9
Sell 0
Strong Sell 2
Total 23
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HSBC Holdings Dividends

  Latest Previous
  Interim Interim
Ex-Div 19-Aug-21 11-Mar-21
Paid 30-Sep-21 29-Apr-21
Amount 7.00¢ 15.00¢

Trades for 21-Sep-2021

Time Volume / Share Price
16:37 42,802 @ 359.50p
16:35 50,214 @ 359.75p
16:35 8,462,243 @ 359.75p
16:30 500 @ 358.93p
16:29 465 @ 359.20p

HSBC Holdings Key Personnel

CFO Ewen Stevenson
CEO Noel Quinn